Published on : Dec 22, 2016
ALBANY, NY, Dec 22, 2016: The report is a detailed analysis of all factors that are expected to augment or restrict the demand and production rate of ammunition in the world and the other factors that players in the market need to focus on. The report covers the coming decade in the global military ammunition market till 2026 with regards to all its top factors of influence.
According to the report, the global military ammunition market is expected to expand at a slow and steady CAGR of 1.52% within a forecast period from 2016 to 2026. This market is shown to be driven by the long-term procurement contracts hosted by the defense sectors of key nations. The countries that are already spending high amounts on maintenance and upgrades for their defense sector are the ones likely to remain as the key providers of demand to players in the global military ammunition market. These are also the nations currently occupied in conflict and/or territorial disputes.
The report segments the global military ammunition market on the basis of ammunition types, into mortar ammunition, artillery ammunition, large caliber ammunition, medium caliber ammunition, small caliber ammunition, and rockets and others. The market is expected to be driven by the growing demand for rockets and other ammunitions segment over the coming years. Artillery ammunition is also expected to be a key contributor to the revenue generation stream in the global military ammunition market till 2026.
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On the basis of geography, the global military ammunition market is expected to be dominated by North America. This region is predicted to occupy around 48% of the value in the global military ammunition market over the coming years. Asia Pacific is expected to be second in terms of the overall demand for ammunition in the world. China, India, South Korea, and Japan are likely to be key contributors to the overall demand in the global military ammunition market from Asia Pacific, while the U.K., France, and Russia are expected to be leading countries demanding ammunition from Europe. Close to 14% of the global military ammunition market is expected to be taken up collectively by the MEA region and Latin America in terms of expenditure, till 2026. The report shows a greater likelihood of demand coming from nations that are trying to tackle the recent increase in the rate of insurgencies and urban terrorism.
All in all, rockets, small caliber ammunition, and artillery are expected to be the leading segments that players in the global military ammunition market need to be a part of to generate higher revenues. Countries are likely to boost their demand for these over the coming years for both, stockpile maintenance as well as training rounds.
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